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Mission Statement

To support the development and maintenance of Oregon State University’s fiscal policy and associated rules, guided by the core values of accessibility, clarity, customer service, internal control and stewardship of resources.

Note that the university is currently undergoing a comprehensive review of university policies and standards.  As this process unfolds, current fiscal policy statements will be reorganized into high-level policy statements approved by the Executive Policy and Standards Committee (EPSC) and “rules” that serve to operationalize the policies.  Rules will be more specific and more readily updated than policies.

 

Vision

The Fiscal Policy Committee (committee) will provide guidance and make recommendations to the Vice President for Finance and Administration (VPFA) to ensure fiscal policy is consistent with university policies and standards, as well as the strategic plan of the Division of Finance and Administration, utilizing an effective and efficient process that incorporates campus feedback and solicits buy-in.  The committee will also guide the creation and improvement of those rules within the purview of the VPFA.

 

Purpose

The purpose of the committee is to assist the Fiscal Policy Officer to:

  1. Identify, evaluate and monitor fiscal policy or rule issues and concerns;
  2. Identify the appropriate campus stakeholders and solicit feedback regarding fiscal policy or rule matters under consideration;
  3. Review feedback and draft fiscal policy or rule wording;
  4. Make final recommendations to the VPFA for fiscal policy approval or revisions;
  5. Assess how fiscal policy or rule changes could impact university operations and budget;
  6. Assess how fiscal policy or rule changes could impact non-compliance risk with evolving regulatory environments;
  7. Monitor the implementation of fiscal policies and rules against intended and unintended consequences.

 

 Membership

The committee will consist of a chair and seven members with voting rights. A quorum of four will be required to make binding decisions, with at least one member from both an Administrative/Compliance unit and a Business Center. The Fiscal Policy Officer will chair the committee as a non-voting member. The Controller will appoint committee members with a minimum two-year commitment. The committee will evaluate membership on an annual basis and recommend new members as necessary. No more than three (3) members may rotate off the committee in a given year, and any changes will take effect as of October 1.

Committee members with an objective understanding of fiscal policy will be appointed as follows in order to provide diverse perspectives with a balanced focus on both compliance and operational needs:

  • 2-3 Fiscal Policy Stewards, with at least 1 from Financial Accounting & Analysis
  • 3 members from Business Centers
  • 1-2 members from various other units as appropriate

While not members of the committee, the following are designated as ad hoc members of the committee. These ad hoc members will be regularly informed of fiscal policy activities to promote open and transparent communication.

  • Policy Stewards
  • Business Center Managers
  • Office of Audit, Risk and Compliance
  • Office of Budget and Fiscal Planning
  • Office of General Counsel
  • Office of Human Resources
  • Office of Sponsored Research and Award Administration (OSRAA)
  • OSU Cascades Business Office
  • University Policy and Standards Program Director

 

Roles and Responsibilities

Committee Chair – Coordinate and communicate with committee members to ensure they are informed of relevant meeting times, dates and materials.  The chair will ensure the committee charter, plans, agendas and goals are established and executed.

Committee Members – Attend meetings prepared to actively contribute and participate in meetings in accordance with the charter with a resolve to be objective and to do what is in the best interest of the university.  Each member will work to protect the integrity of the committee by acting in accordance with OSU’s ethical standards, participating with an open mind and engaging with a cooperative spirit.   All members will provide reinforcement and support of approved policies and rules.  The committee will advance its own learning and acquired knowledge to promote a culture of fiscal responsibility.